Amount and Terms of Commitments Sample Clauses
The "Amount and Terms of Commitments" clause defines the specific financial obligations and conditions that parties agree to under a contract, such as the total amount to be provided, payment schedules, and any related requirements. This clause typically outlines how much each party is committing, the timing and method of contributions or payments, and any conditions precedent to funding. Its core practical function is to ensure all parties have a clear understanding of their financial responsibilities, thereby reducing the risk of disputes over payment terms or funding obligations.
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Amount and Terms of Commitments. 2.1 Tranche A Term Loans. Subject to the terms and conditions hereof, each Tranche A Term Loan Lender severally agrees to make term loans (a "Tranche A Term Loan") to the Borrowers, jointly and severally, on the Closing Date in an amount not to exceed the amount of the Tranche A Term Loan Commitment of such Lender. The Tranche A Term Loans may from time to time be (a) Eurodollar Loans, (b) Base Rate Loans or (c) a combination thereof, as determined by the Designated Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.13.
Amount and Terms of Commitments. 2.1 [Reserved].
2.2 [Reserved].
2.3 [Reserved].
Amount and Terms of Commitments. 2.1 Commitments; Increases in the Tranche A Term Facility and the Revolving Facility; Incremental Term Loans.
(a) Subject to the terms and conditions hereof, (i) each Tranche A Term Lender severally agrees to make one or more term loans (each, a "Tranche A Term Loan") to the Borrower in an aggregate amount not to exceed the amount of the Tranche A Term Commitment of such Lender, (ii) each Tranche B Term Lender severally agrees to make a term loan (each, a "Tranche B Term Loan") to the Borrower in an amount not to exceed the amount of the Tranche B Term Commitment of such Lender and (iii) each Incremental Term Lender severally agrees to make one or more term loans (each, an "Incremental Term Loan") to the extent provided in Section 2.1(c). The Term Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.10. Except as otherwise provided in Section 2.1(c), Tranche A Term Loans may only be made during the period (the "Tranche A Commitment Period") from and including the Closing Date to the date that is 18 months thereafter (such date, the "Tranche A Commitment Termination Date"); provided, that $150,000,000 of the Tranche A Term Commitments must be used (if at all) on or prior to the first anniversary of the Closing Date. The Tranche A Term Commitments shall automatically be permanently reduced by the amount of any borrowing thereunder. Any unutilized Tranche A Term Commitments shall automatically terminate on the Tranche A Commitment Termination Date. Tranche B Term Loans may only be made on the Closing Date.
(b) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans ("Revolving Loans") to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Lender's Revolving Percentage of the sum of (i) the L/C Obligations then outstanding and (ii) the aggregate principal amount of the Swingline Loans then outstanding, does not exceed the amount of such Lender's Revolving Commitment. During the Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Bo...
Amount and Terms of Commitments. 13 2.1 Purchases..........................................................13 2.2 Reductions and Extensions of Commitments...........................16 2.3 Interest, Fees, Expenses, Payments, Etc............................17 2.4
Amount and Terms of Commitments. (a) Subject to the terms and conditions set forth in this Agreement, each Lender severally agrees to make, Convert and Continue Loans in Dollars until, but not including, the Maturity Date in such amounts as Borrower may from time to time request; provided, however, that (i) the Outstanding Obligations of each Lender shall not exceed such Lender's Commitment at any time, and (ii) the Outstanding Obligations of all Lenders shall not exceed the combined Commitments at any time. This is a revolving credit and, subject to the foregoing and the other terms and conditions hereof (including Section 2.10(d)), Borrower may borrow, Convert, Continue, prepay and reborrow Loans as set forth herein without premium or penalty.
(b) Upon the request of any Lender made through Administrative Agent, a Lender's Loans may be evidenced by a Note, instead of or in addition to its loan accounts or records. Each such Lender may attach schedules to its Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. Any failure so to record or any error in doing so shall not, however, limit or otherwise affect the obligation of Borrower to pay any amount owing with respect to the Obligations.
(i) Administrative Agent shall maintain, at Administrative Agent's Office, a register for the recordation of the names and addresses of Lenders and the Commitments and Extensions of Credit of each Lender from time to time (the "Register"). The Register shall be available for inspection by Borrower or any Lender at any reasonable time and from time to time upon reasonable prior notice. Administrative Agent shall maintain the Register, acting, solely for this administrative purpose only, as agent for Borrower (it being acknowledged and agreed that Administrative Agent and each Administrative Agent-Related Person, in such capacity, shall constitute Indemnitees under Section 10.13).
(ii) Administrative Agent shall record in the Register the Commitment and Extensions of Credit from time to time of each Lender, and each repayment or prepayment in respect thereof. Any recordation shall be conclusive and binding on Borrower and each Lender, absent manifest error; provided, however, that the failure to make any such recordation, or any error in such recordation, shall not affect any Lender's Commitment or Outstanding Obligations.
(iii) Each Lender shall record on its internal loan accounts or records (and may record on the Note held by such Lender) the amount of e...
Amount and Terms of Commitments. 2.1 Term Loan Commitments; Revolving Credit commitments.
(a) Subject to the terms and conditions hereof, each Term Loan Lender severally agrees to make a term loan (a "Term Loan") to the Borrower on the Closing Date in an amount not to exceed the amount of the Term Loan Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.8.
(b) Subject to the terms and conditions hereof, each Revolving Credit Lender severally agrees to make revolving credit loans ("Revolving Credit Loans") to the Borrower from time to time during the Revolving Credit Commitment Period in an aggregate principal amount at any one time outstanding which does not exceed the amount of such Lender's Revolving Credit Commitment. During the Revolving Credit Commitment Period the Borrower may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Credit Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.8, provided that no Revolving Credit Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Revolving Credit Termination Date.
Amount and Terms of Commitments. 28 2.1 Term Loan Commitments .............................................................. 28 2.2 Procedure for Term Loan Borrowing .................................................. 28 2.3
Amount and Terms of Commitments. 2.1 Tranche A Commitments and Tranche A Notes.
(a) Subject to and in reliance upon the terms, conditions, representations and warranties contained in the Loan Documents, each Lender severally agrees to make Loans under its Available Tranche A Commitment to the Borrower from time to time until the Termination Date ("Tranche A Loans"), provided that in no event shall the Aggregate Outstandings of Tranche A Credit of any Lender at any time exceed such Lender's Tranche A Commitment. Until the Termination Date, the Borrower may use the Available Tranche A Commitments by borrowing, prepaying the Tranche A Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof.
(b) The Tranche A Loans may from time to time be (i) Eurodollar Loans, (ii) ABR Loans or (iii) a combination thereof, as determined by the Borrower and notified to the Agent in accordance with Sections 2.3 and 4.5, provided that no Tranche A Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Termination Date.
(c) In order to evidence the Tranche A Loans, the Borrower will execute and deliver to each Lender a promissory note substantially in the form of Exhibit H-1, with appropriate insertions as to payee, date and principal amount (each, as amended, supplemented, replaced or otherwise modified from time to time, a "Tranche A Note"), payable to the order of each Lender and in a principal amount equal to each such Lender's Tranche A Commitment. Each Tranche A Note shall (x) be dated the Effective Date or the date of any reissuance of such Tranche A Note, (y) be stated to mature on the Termination Date and (z) provide for the payment of interest in accordance with Section 4.1.
Amount and Terms of Commitments. 50 2.1 Commitments................................................ 50 2.2 Revolving Credit Notes..................................... 50 2.3 Procedure for Revolving Credit Borrowing...................
Amount and Terms of Commitments. 23 SECTION 2.01. Commitments.........................................................................